More New Zealanders are taking control of their credit files

More New Zealanders are taking control of their credit files

Kiwis are making the most of free and instant access to their credit scores and files, with more consumers checking that the personal financial details banks, credit providers and reporting bureaus keep on them is correct.

Almost 3,000 New Zealanders have queried errors on their credit file since CreditSimple.co.nz began offering free credit score checks in September 2016.

New Zealanders need to keep an eye on their credit file and make sure all data is correct, or risk being turned down for credit thanks to unpaid bills or bad debts incorrectly being attributed to them, warnsCreditSimple.co.nz.

The figures mean just over one per cent of the 300,000 Kiwis registered with Credit Simple have queried something on their credit file. CreditSimple.co.nz spokesperson Hazel Phillips says that might not seem hugely significant at first glance, but for those people, an error on their credit file could be the thing that stops them from getting a mortgage or opening a new electricity or phone account.

“A quick check of your credit score and file before you apply for a loan or new utility contract can save you a world of pain down the track. The last thing you want is to hear about a black mark on your credit file when you’re sitting down with the bank manager,” Ms Phillips said.

“Check your score before you need credit and if you see a mistake, tell us and we’ll help you get it fixed fast.”

Ms Phillips said that common errors on credit files include bad debts or unpaid bills from another person, sometimes with a similar name, being wrongly attributed to you, as well as bills or debts that have been paid, but are incorrectly listed as unpaid.

ENDS

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